Europe Single Axis Solar Tracker Market Size - By Product (Horizontal, Vertical), By Application (Residential, Commercial & Industrial, Utility), Country Outlook & Forecast, 2024 – 2032

Europe Single Axis Solar Tracker Market Size

Europe Single Axis Solar Tracker Market was valued at USD 4.5 billion in 2023 and is anticipated to grow at a CAGR of 6.1% from 2024 to 2032. The single-axis solar tracker use a single axis to follow the sun's movement throughout the day. These systems are designed to increase the efficiency and energy yield of solar photovoltaic (PV) panels by optimizing their angle relative to the sun. They rotate PV panels along one axis, typically from east to west, maximizing the exposure of the panels to direct sunlight, increasing energy production by nearly 25-35%.
 

Growing technological advancements, cost decreases in line with integration of single-axis trackers with bifacial solar panels and energy storage systems is set to drive the market growth. Increasing use of trackers to boost efficiency, reduce energy costs and carbon footprints will contribute to enhanced adoption across commercial solar applications. In addition, regional renewable energy targets and mandates to increase solar capacity will lead to product penetration.
 

Growing issuance of green bonds to finance renewable energy projects providing low-cost capital for large-scale solar developments coupled with ongoing collaborations between governments and private investors to facilitate the funding and development of solar projects is set to strengthen the industry statistics. Furthermore, ongoing investment in utility-scale solar driven by strong policy support is set to bolster the market statistics.
 

Europe Single Axis Solar Tracker Market Trends

Continued technological advancements, supportive policy environments, and growing market demand are expected to drive the product adoption. integration of advanced energy storage solutions, further cost reductions, and the expansion of solar projects in emerging markets across the region coupled with increasing push for renewable energy will enhance the business landscape. Additionally, implementation of smart grid technologies for better integration and management of large-scale solar power, will enhance the grid resilience and efficiency, driving the industry scenario.
 

Europe Single Axis Solar Tracker Market Analysis

Based on Product, the horizontal segment is likely to reach USD 54.1 billion by 2032 on account of increased energy production, enhanced system efficiency and technological simplicity & reliability. The horizontal trackers follow the sun’s east-to-west movement, keeping the solar panels optimally oriented to capture maximum sunlight throughout the day. Additionally, maintaining optimal panel angles allows the systems to extend the period during which the system operates at peak efficiency, thereby increasing the overall energy yield. Moreover, modern trackers integrate with smart tracking algorithms and IoT sensors allowing real-time adjustments and performance monitoring, thereby optimizing the energy capture.
 

Based on application, the Europe single axis solar tracker market is segmented into Residential, Commercial & Industrial, and Utility. Among these the utility sector is likely to register more than 5.5% CAGR through 2032. These systems are predominantly used in large scale solar farms, owing to ability to increase output by 15-30% and maximized energy production thereby making them attractive for utility scale deployments. The declining cost of solar technology, including panels, inverters, and tracking systems, further makes the utility solar projects more financially attractive, thereby augmenting the market growth.
 

Germany single axis solar tracker market is projected to surpass USD 2.5 billion by 2032. Germany’s ambitious Energiewende policy to transition the country to a low-carbon, renewable energy-based economy along with mechanisms comprising feed-in tariffs and auctions for renewable energy, will continue to drive the market growth. Technological advancements in solar PV modules and tracking systems have made single axis trackers more efficient and reliable will influence the product penetration.
 

In the U.S. presence of regions with high solar irradiance, utility-scale projects in states comprising California, Texas, and Arizona will augment the market landscape. Favorable policies and government mandates maximized energy production, and growing demand for sustainable energy is set to influence the market landscape.
 

Europe Single Axis Solar Tracker Market Share

Corporations seeking to meet sustainability goals are entering into power purchase agreements (PPAs) for renewable energy, including solar projects equipped with single-axis trackers. This trend supports the growth of large-scale solar installations. Increasing commitments from corporations and municipalities to adopt renewable energy solutions, including solar projects with single-axis trackers, as part of their sustainability strategies will complement the industry landscape.
 

Europe Single Axis Solar Tracker Market Companies

Eminent players operating in the Europe single axis solar tracker industry are:

• Arctech
• ArcelorMittal
• DEGERENERGIE GMBH & CO. KG
• GameChange Solar
• Gonvarri Solar Steel
• MECASOLAR
• Nextracker Inc.
• Powerway Renewable Energy Co., Ltd
• PVHardware
• SOLTEC
• STI Norland
• Trina Solar
• Valmont Industries, Inc
   

Europe Single Axis Solar Tracker Industry News

• In May 2024, Gonvarri Solar Steel entered in a supply agreement for the development and supply of fixed RackSmarT structures, 1P single and dual row solar trackers. The 59 MW agreement will include a total of more than 1,400 dual-post tables, distributed across locations, including the southwestern Spain and Aragon perimeter.
   
• In March 2023, Nextracker entered into an agreement with IbVogt, for the supply of terrain-following solar tracker NX Horizon-XTR. The project is backed by a 12 year PPA agreement with Google, to enter into production in October 2023. Further, it will support the company offer solutions with minimal environmental impact thereby enhancing its product offerings.
   

This Europe single axis solar tracker market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in “USD Billion & MW” from 2021 to 2032, for the following segments:

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Market, By Product

• Horizontal
• Vertical

Market, By Application

• Residential
• Commercial & Industrial
• Utility

The above information has been provided for the following countries:

• UK
• France
• Netherlands
• Germany
• Sweden
• Spain
• Austria